Bank of Nova Scotia Sells 10,930 Shares of Rubrik, Inc. $RBRK

Bank of Nova Scotia trimmed its stake in Rubrik, Inc. (NYSE:RBRK) by 1.5% in the 1st quarter, HoldingsChannel reports. The firm owned 726,670 shares of the company’s stock after selling 10,930 shares during the quarter. Bank of Nova Scotia’s holdings in Rubrik were worth $35,585,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of RBRK. Atlantic Union Bankshares Corp raised its stake in Rubrik by 100.0% in the fourth quarter. Atlantic Union Bankshares Corp now owns 400 shares of the company’s stock worth $31,000 after buying an additional 200 shares in the last quarter. Triumph Capital Management purchased a new stake in Rubrik in the fourth quarter worth about $33,000. Banque Cantonale Vaudoise purchased a new position in shares of Rubrik during the 3rd quarter worth approximately $34,000. Los Angeles Capital Management LLC purchased a new position in shares of Rubrik during the 4th quarter worth approximately $35,000. Finally, Comerica Bank raised its position in shares of Rubrik by 209.0% in the 1st quarter. Comerica Bank now owns 584 shares of the company’s stock worth $36,000 after acquiring an additional 395 shares in the last quarter. Hedge funds and other institutional investors own 49.54% of the company’s stock.

Rubrik Price Performance

NYSE:RBRK opened at $73.17 on Friday. Rubrik, Inc. has a one year low of $42.25 and a one year high of $99.75. The business has a fifty day moving average price of $75.22 and a 200-day moving average price of $62.84. The firm has a market capitalization of $15.06 billion, a price-to-earnings ratio of -50.46 and a beta of 1.10.

Rubrik (NYSE:RBRK) last released its earnings results on Thursday, June 4th. The company reported $0.16 earnings per share for the quarter, beating the consensus estimate of ($0.03) by $0.19. The company had revenue of $387.07 million for the quarter, compared to analysts’ expectations of $366.31 million. During the same quarter last year, the firm posted ($0.15) earnings per share. Rubrik’s revenue for the quarter was up 39.0% on a year-over-year basis. Rubrik has set its FY 2027 guidance at 0.250-0.350 EPS and its Q2 2027 guidance at 0.030-0.050 EPS. On average, equities research analysts expect that Rubrik, Inc. will post -1.16 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on RBRK shares. KeyCorp raised their target price on Rubrik from $88.00 to $100.00 and gave the company an “overweight” rating in a research note on Thursday, July 16th. Wedbush reiterated an “outperform” rating and issued a $90.00 price objective on shares of Rubrik in a report on Thursday, June 11th. Robert W. Baird raised their price objective on Rubrik from $100.00 to $110.00 and gave the company an “outperform” rating in a research report on Thursday, June 11th. Oppenheimer boosted their target price on shares of Rubrik from $85.00 to $90.00 and gave the company an “outperform” rating in a report on Friday, June 5th. Finally, Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of Rubrik in a research report on Friday, June 5th. Twenty-eight equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $93.96.

Insider Buying and Selling

In related news, Director John Wendell Thompson sold 11,000 shares of the stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $55.48, for a total value of $610,280.00. Following the completion of the sale, the director directly owned 4,653 shares of the company’s stock, valued at approximately $258,148.44. This represents a 70.27% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Arvind Nithrakashyap sold 199,447 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $84.28, for a total transaction of $16,809,393.16. Following the sale, the chief technology officer owned 314,048 shares in the company, valued at approximately $26,467,965.44. The trade was a 38.84% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 291,321 shares of company stock valued at $24,074,426 in the last 90 days. Corporate insiders own 13.66% of the company’s stock.

Rubrik Company Profile

Rubrik, Inc is a cloud data management and security company that delivers a unified platform for data protection, disaster recovery, compliance and intelligent data governance. Its flagship offering, the Rubrik Security Cloud, enables organizations to automate backup and recovery workflows across on-premises, edge and multi-cloud environments. By combining policy-driven orchestration with real-time threat detection, Rubrik helps clients guard against ransomware, ensure business continuity and enforce data retention requirements.

The company’s platform supports a range of services including backup and restore, long-term data archiving, replication, and disaster recovery as a service (DRaaS).